How BPO is Different from KPO?

Successful businesses always adapt methods which help them solve different problems. These methods help them to efficiently manage their business operations. BPO is one of the effective methods used by companies to help them run their businesses.

So, what is BPO? It is an acronym that stands for business process outsourcing.Outsourcing some business functions to a third party means – the chances of getting best outcomes and giving a better push to your productivity.

Here are some advantages associated with business processing outsourcing:

Speed and efficiency

It is the desire of each business to increase both its speed and efficiency. Companies that are working on a large scale may face trouble in managing all their departments. In such scenario, they prefer to outsource their some businesses.

Each and every BPO outsourcing service provider promises speed and efficiency if given tasks to handle. Through BPO, companies are guaranteed efficiency.

Core Business

There are certain core activities which determine the success of the business. When a business grows, more and more tasks arise. This makes it difficult to concentrate on the main core business strategies. BPO can help a business invest more time on the core strategies which determine the success of a business. This includes competitive strategies among others.

Organizational growth

As we all know call center outsourcing is a perfect example of a BPO service. The good thing about BPO is that a business or an institution does not use any of its capital resource or asset expenditure when hiring another company.

Technology

Most BPO outsourcing service providers have access to the latest technology so as to attract more clients. This enhances the quality of the work being delivered.

Knowledge process outsourcing (KPS)

KPS or rather knowledge process outsourcing can be described as a form of outsourcing where information or knowledge relating to work is carried out by another company or institution within the same institution to save resources or cost.

Knowledge process outsourcing services are only carried out by highly skilled staff. There are some instances where the KPO firms make decisions on behalf of the sourced company.

KPO services are categorized into four categories, namely:

Data management-This includes coming up with efficient methods for data integration, sharing and retrieval methods for filing reports or analytics and lastly storage.

Data analytics and insight-This process involves addressing business problems that might come across industries

Global reporting and performance management-It is very important to provide both efficient reporting and performance measurement. This helps industries achieve a better operational excellence.

Business research-Business Research is very crucial as it helps businesses come up with strategies and techniques for answering very complicated questions.

Knowledge processing services vary, depending on the kind of services a person is looking for. It is evident that KPO fully depends on a person’s knowledge in different fields. The rich knowledge processing outsourcing services can be enhanced by a person having a depth knowledge in the respective field.

KPO has helped many Companies on the following three main key aspects: · Increasing the shareholder value · Capitalizing on highly skilled workers at affordable rates · Improving the overall performance of businesses. · Improving the overall performance of businesses.

Before going into details about the difference between KPO and BPO let us look at a few advantages associated with KPO: · An institution is assured of the security of certain sensitive information or documents regarding the business. Security of data is always taken seriously by the KPO outsourced companies as KPO's are handled by experts or professionals. · The good thing about KPO is that it allows a business to focus on the core functions of your business while your KPO partners handle all your outsourced tasks. It is very challenging for companies to handle certain tasks as the business is growing. · Most KPO agencies are equipped with the latest technology, software, and infrastructure among others. An institution should not only be guaranteed quality work, but also quality deliveries. · Outsourcing certain tasks to Knowledge process outsourcing companies might save you a lot of operational costs. It is actually cheaper to hire a KPO company to handle your tasks. · KPO is unique at some point as all tasks are handled by skilled and well-trained professionals.

Comparison between BPO and KPO

• BPO refers to the outsourcing of some activities to an external company to minimize the management cost while increasing efficiency in the Company.KPO is also a form of outsourcing where services relating to certain knowledge and information are outsourced to third party service providers

. BPO requires good communication skills, whereas KPO requires professionally trained workers.·

BPO is mostly based on rules, whereas KPO is based on judgment.·

The degree of complexity in KPO is very high compared to that of BPO·

KPO requires expertise in the Knowledge, whereas BPO requires expertise in the process·

KPO can be categorized as insight driven, whereas BPO is somehow volume driven ICCS is a leading BPO which provides

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